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Today marks the launch of the Pyth Ecosystem Grants Program with 50M in PYTH grants available to eligible community members. This program aims to encourage community members to share their insights on Pyth Network with the wider Web3 community and contribute to its development through educational and research initiatives. Learn more below: The Purpose of the Ecosystem Grants Pyth Network is enabling a new generation of decentralized finance. Today, Pyth Network powers more than 350 applications across over 55 blockchains and has facilitated over $400 billion in traded volume. Pyth Network is operated by the Pyth DAO, following a decentralized governance model to enable contributors to collectively shape the network to better serve the DeFi space. Thoughtful incentives can encourage stakeholders to contribute to protocol development, educate new people about the technology, and inspire new contributors to take part. Grants and Ecosystem Growth This grants program by Pyth Data Association will oversee the distribution of grants of PYTH tokens to participants. All grants in the program come from the Ecosystem Growth category of the PYTH Token supply. The Ecosystem Growth tokenomics category, which comprises the majority of the total supply, is set aside for incentivizing research to advance the Pyth protocol, guiding the creation of complementary tooling and infrastructure, and supporting educational initiatives about the Pyth Network. These initiatives span community members who contribute to the network as education partners, researchers, developers, data providers, and more. Grant Categories The program offers three categories of grants: 🫂 Community Grants — for fostering an entrepreneurial, inclusive, and passionate community space for all Pyth Network participants. 🔬 Research Grants — for facilitating the exploration of new network features, areas of improvement, and productive insights for improving the Pyth offerings. 💻 Developer Grants —for incentivizing the creation of new tooling to support the protocol’s operations and innovative integrations. The purpose of these grants is to empower the Web3 community to create educational content about Pyth and foster a welcoming, entrepreneurial community; conduct research to improve the Pyth oracle and encourage adoption; and build new tooling and use cases for the Pyth protocol. Every contribution helps shape the network's trajectory and spearhead new advancements for the wider DeFi ecosystem secured by Pyth.